When buying in bulk online, it’s important to know your product and the supplier you are working with to ensure you are getting the highest quality product at the best possible price. Here are five things you need to know when buying bulk online that will help you feel confident in your purchase and avoid problems further down the line!
Take Advantage of Subscriptions
To save time and avoid constantly rearranging, bulk-ordering websites make it simple to switch between different categories and products, schedule restocking, and create shopping lists that can be added immediately to the shopping cart. That way, you’ll always have the necessary supplies without worrying about running out or replacing things like trash bags, paper towels, or batteries. Use a service that will aid you in making the most of these cost-cutting options at each stage of your bulk orders.
Add Savings to Bulk-Buying
When you buy in bulk, you want to reduce your per-item expenditure as much as possible, and adding discounts to a deal is a great way to do just that. When you can combine wholesale items bulk purchases with other savings mechanisms, such as discounts, you’ll save the most money. It’s possible to do this rather well with preparation, especially when certain things are on sale.
You should exercise discretion and only stock up on non-negotiable necessities, as bulk discounts are hit-or-miss. It’s a waste of time, money, and resources if you run a small business and stock up on things you utilize less regularly. In contrast, if you know what you’re doing and buy in quantity at the right moment, you may save a ton of money and devote those resources where they’ll do the most good for your business.
Make Sure to Keep a Close Eye on the Shipping
You can choose from several shipping methods to get your goods to their final destination. Freight transport by sea and air is the norm. However, depending on the size of the bulk of the wholesale items you’re purchasing, Ocean transportation is the most cost-effective option. Air freight is the better option if you need to buy many light items.
Analyze the various options to choose the payment plan best suits your needs. Furthermore, the supplier’s delivery policies will play a significant role. Options for shipping terms include “Ex Works,” “Free on Board,” and “Cost, Insurance, Freight” (CIF).
Inquire Further from the Manufacturer
One important thing to remember is that the supplier differs from the manufacturer. You may find thousands of manufacturers, wholesalers, and bulk suppliers among the companies listed on Alibaba.com. Instead of going via a middleman, it can be beneficial to deal straight with the manufacturer. If you go straight to the source, you can usually get the best deals. If sales are something other than what they do, they’ll be honest about it and point you in the direction of a distributor who can.
Prove it Out with a Sample
Make sure the things you’re thinking about buying are exactly what your company needs. Your assumption can be confirmed with almost no out-of-pocket expense if you ask for and receive a sample in advance. By trying out a sample first, you can ensure you’re investing in high-quality products with a long shelf life. Products such as:
- Consumer electronics, video games, and peripherals are all examples of hardware.
- Paper towels and car parts
- Towelling paper
- Food that is sold in large quantities, such as rice, bulk flour, beans, and jars of preserved tomatoes
Considerations when choosing a wholesaler or bulk-buying website for your company
While it’s true that the right bulk-buying strategy can yield substantial savings for a company, the incorrect supplier can quickly negate those benefits. The quality of the products, the speed of delivery, and the overall transaction efficiency are all highly dependent on selecting the appropriate online vendor.
The following questions can be useful:
- Do you know what you require? Only some companies can benefit equally from bulk purchases, but the vast majority can. You can’t justify a bulk purchase based on past sales, available storage space, or anticipated sales. If that’s the case, it’s probably not worth the cost. On top of that, having all of these details ironed out in advance can help you know what kinds of wholesale suppliers to seek out and what kinds of things to purchase.
- Is this a trustworthy vendor? Once you have a clear idea of what you need, evaluating possible suppliers is much simpler. In most cases, starting with a question about the supplier’s dependability is a good idea. If you’re looking to import from the United States, a Costco membership is your ticket to low prices on various products from reputable manufacturers. Look for the labels “Gold Suppliers,” “Trade Assurance,” and “Verified Suppliers” on Alibaba.com to identify credible vendors.
- Have they received positive reviews? Feedback from former clients gives a glimpse into the level of satisfaction they experienced with the service provider. This tells you if their customer service is any good, if they are knowledgeable about the goods, if they deliver on time, if they have great shipping terms, and if they provide any other useful information. A provider’s ratings and feedback can be viewed by clicking on their profile. The information is easily accessible on Alibaba.com.
- Have they shown any flexibility? While low prices are certainly an issue, the ability to tailor to your needs is more crucial when choosing a wholesale items bulk provider. Although a supplier’s initial high advertised prices, you may be able to negotiate a lower price, as well as other benefits like flexible minimum orders, payment terms, etc., provided you’re willing to be flexible with them.
- Are they willing to bargain? There is usually quite a bit of back-and-forth between the buyer and the seller during a B2B transaction. You can get exactly what you want from a vendor when you buy thousands of products. Also, because of your significant investment, your suppliers will be flexible in ways you might have yet to anticipate.
Why bulk-buy online?
People often make bulk purchases for a variety of reasons. Sustainable purchasing and low pricing are major draws for business-to-consumer shoppers looking to stock up on pantry staples, including groceries, snacks, and other bulk consumables.
However, from a business-to-business perspective, there are even more benefits to purchasing in bulk beyond the obvious savings that may be realized by purchasing in massive quantities.
Buying in bulk might be cost-effective because of the discounts you’ll realize on individual items. According to one study1, a 10% increase in package size results in a 5% drop in the unit price of groceries. Price breaks may be offered based on the quantity purchased, whether in ounces, pounds, or kilograms, making it more economical to buy in bulk. Saving money by purchasing large quantities can be accomplished by producing or reselling. When you stock up on input materials at wholesale prices, you can resell them for a greater price.
When buying bulk, you always need to figure out what to expect. But there are certain things that you should be on the lookout for. Make sure you’re informed of the product details before ordering in bulk.